Keeping a gun inventory

M

Mastrogiacomo

New member
I'm trying to get a list together of what I own to have them insured. This is what I'm sure I'll need:

Model/caliber/description of firearm/serial number
Where purchased, when, for how much.

Do I need the shops FFL, address, etc? What are the only facts I need to list for insurance? I'm wondering if I should also include things like cost for custom work.
 
I recommend you call your insurance agent at ask him exactly what is required. I keep photographs of all mine with serial numbers and receipts (if I have them) in a safety deposit box. That is what my agent recommended.
My insurance is "replacement value" which means regardless of what I paid, the insurance company will pay what it costs at the time of the loss to replace them based on the Blue Book of Gun Values. You should clarify with your agent exactly how the insurance will pay if you have a loss.
 
Make sure to take pictures, write all the information down about the firearm including custom work on a firearms log which is available from Brownells Inc. It doesn't hurt to have all of this witnessed by someone with authority like a police officer.
 
My experience is that most common carriers won't insure guns....this may have changed. NRA has a policy called Armscare. I used it for years, but it did require FFL appraisals for anything you consider "collectible".
Rich
 
Buying a really good gun safe will probably be an order at some point. What do you guys pay for yours? I expect this will probably cost at least a few hundred for a good fire proof safe.
 
I have a bunch of guns and I take digital pictures, I write down on a piece of paper the serial number make and model and what is on the gun and what goes with it. I save it on a disc and put it in a safety deposit box in the bank. I have 5 big boxes filled with guns at the bank.

look at what I did with the guns I keep in the house.


www.msnusers.com/gunsandtattoos
 
I have a Homak which holds 8 guns. It weighs roughly 60lbs combine that with guns, ammo, and a few bricks, it'll make it hard for anyone to carry it off. Made of 16ga steel it will take around 90 minutes to cut through enough to get the guns out, plus it can be bolted to the wall.
 
For insurance reasons (and I too have a policy with the NRA):

Excel spreadsheet with Make, Model, Serial, Description and if it is C&R or not (have a C&R license). I also have a memo field for anything that I may add, I will be building (if I ever get to it) an access database to hold the same which, of course, will be free to any TFL persons :).

I will also incorporate into the database program a section that has the pictures of said firearms under each firearm form. Right now, I just have pictures on a CD.

For any custom work I scan the reciept into the computer and save that on CD also. Most of your reciepts will have the make, model and serial of the gun that was worked on.

Most insurance companies will put a limit, no matter what you have, when it comes to guns. My rental policy caps at $1,000 dollars on firearms no matter what I have, as they have a cap on jewery(sp) at $2500 no matter what I have (and no, I don't have that much).

And most insurance companies, being in the business to make money and not pay out, will come up with some really tight restrictions on what you must do in order for them to pay out. One of the ones that I was thinking of (won't repeat the name here) would insure my guns up to 1 million dollars at a great price, but in the contract (and I'm not kidding) the small print stated:

"That the house and the contents are 100% safe and no person could break in and aquire the contents of".

With the fact that if someone did or was able to break in and steal anything, the contract or insurance was null and void with no payout from that company.

Many others, being more realistic, have restrictions such as the fire rating of the safe as well as the weight of the safe. If you don't comply, no pay out. Some others wouldn't insure because of the area that you were in or because your house didn't meet certain requirements (brick instead of wood, etc..).

On any insurance, be sure to read the fine print and to also know where they are coming from. Even the NRA insurance is based upon the fact that you may own one or two guns, maybe a dozen at the max. The hoops that they want for custom guns is quite extensive and they still can decline insurance coverage on the gun.

The way I see it (and it's bad) is that most to all insurance companies don't understand the collector of guns or the want to insure guns. They put in as many restrictions as they can with the well known "we reserve the right..." clause. Guns are fun, they are fun to collect and own, but if you have the misfortune of having a fire or someone steals them, just keep it in mind that you will not get your value back from any insurance company and you may as well start over.

The best way to protect yourself is free (on stolen goods that is), just keep good records, pictures and give them to the police ASAP if you are robbed. For the fire aspect, just cough up the money for a good heavy safe if your apartment or house will support it (that is why I don't have yet).

Wayne
 
I have a Homak which holds 8 guns. It weighs roughly 60lbs combine that with guns, ammo, and a few bricks, it'll make it hard for anyone to carry it off. Made of 16ga steel it will take around 90 minutes to cut through enough to get the guns out, plus it can be bolted to the wall.
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16 gauge is VERY thin. A few good strokes with an axe will break through, or a pry bar will easily bend it open. A sawzall with the proper blade would do the trick faster than a hot knife through butter. Additionally, I hope its not the type with a tubular lock; those locks can be picked with nothing more than the barrel of a $0.59 Bic pen. Look to the UL rating on the safe. A "RSC" rating (Residential Security Container) is what most safes have - including some of the top of the line gun safes from manufacturers like Ft. Knox, AMSEC, etc. That RSC rating means it will provide protection from being compromised for a net working time of 15 minutes with basic hand tools. If it doesn't bear an RSC or TL rating, its not going to hold up very long against anyone who is determined to get in. It may be all you need for what you have stored in it, or in conjunction with other security measures you have in place at your home. Just don't be overconfident in the level of security that Homak will provide.

Personally, I gave up on the idea of insuring my collection after I spoke with my insurance agent. The premiums would have been about 2% of the insured value and only covered loss by theft or fire. Additionally, I would have had to obtain appraisals (at my expense) on all my guns just to cover them at all. In total, I just felt it cheaper to buy the best safe i could afford.
 
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